Chad West joins Micro-investing platform Wombat as it prepares for European expansion and the launch of new products and features in 2022.
Advisors Join From Revolut, Hargreaves Landsdown, and eToro
Wombat has hired ex-Revolut communications director Chad West as an advisor in a bid to prepare the micro investing platform as it enters the European stage after success in the United Kingdom.
The trading platform has reached the 200,000 registered users milestone and onboarding numbers are currently rising by 15% per quarter. According to App Radar, Wombat was the fastest growing investment app based on number of downloads during the pandemic.
The addition of the former Revolut communications director follows the appointment of Hargreaves Lansdown CIO David Davies and ex-eToro MD Iqbal Gandham, who signed three year-advisory deals in Q3 of this year.
Wombat in Series A Funding Ahead of European Expansion
Kane Harrison, CEO and co-founder of Wombat, said: “There is huge demand from consumers for mobile-first platforms that make it easy to invest. Our mission is to support and encourage as many people as possible to start investing by making it simpler, cheaper, and fairer.
“We are proud of how many new investors have chosen Wombat to manage their money and are fully committed to ensuring they have all the tools and knowledge to continue to invest in the way that they want. The advice and guidance of our expert advisors has been instrumental in the growth of Wombat so far and we are delighted to welcome Chad to the team as we prepare for the next stage of our development.”
Chad West, advisor at Wombat, commented: “Wombat has proven that it is one of the most exciting new investment platforms in the UK and has laid the foundations for a very bright future. It has a compelling proposition, a fantastic user journey and a brilliant team in place, and I look forward to working with them as they continue to build on all of the great work they’ve achieved to date.”
Wombat is currently undergoing a Series A funding round which should fuel the firm’s expansion efforts into Europe, including marketing and staff, as well as the launch of several new products and features.
The three year old startup has based its rapid growth on novice investors as the pandemic brought swathes of new investors to the trading playground.
Wombat offers access to a range of theme-based exchange-traded funds (ETFs) and curated UK, US and EU fractional shares, and has recently cut its annual platform charge to 0.1% for ISA investors buying individual stocks.